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Quiz_5 - Quiz#5 1 Which of the following financial...

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1 Quiz #5 1. Which of the following financial statement(s) reports both current and noncurrent assets and liabilities? A. Choice A B. Choice B C. Choice C D. Choice D 2. Which of the following should not be reported as a liability of the General Fund? 3. When a computer is ordered by a department of the government, the purchase order should be recorded in the General Fund as a debit to 4. The Town of Ashland levied property taxes in the amount of $800,000. The town estimates that 1 percent will be uncollectible. The journal entry to record the tax levy will include 5. An interfund transfer should be reported in a governmental fund operating statement as a(an) A. Revenue or expenditure. B. Due from or due to other funds. C. Change in fund balance. D. Other financing source or use.
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